Don't celebrate just yet. Covid isn't over — and the worst if it may still lie ahead of us: bloomberg.com/opinion/articl…
It's clear that much of the world is thinking about this pandemic as something that's approaching its end.
More and more I'm seeing it talked about in the past tense. Google searches for "after Covid" are running ahead of "Covid symptoms":
But the brutal truth is that the rate of new infections rose nearly 50% during March.
They're now running at a daily rate we never saw in this pandemic until the winter surge in mid-November:
What's worse is that many of the places where infections are picking up fastest are those with the least capacity to deal with it: Middle- and lower-income countries in South America, South Asia, the Middle East, Ukraine, the Philippines:
Vaccines are likely to suppress Covid pretty effectively in places like the U.S. and U.K. and, later, Europe, where fresh lockdowns are underway in France and Italy now.
The same can't be said of poorer countries where it could be years before you get to 75% coverage.
The Covax program to provide low-cost doses for poorer countries is still $2bn short of the funding it needs this year. Even if it gets that money it will only be able to reach 27% vaccine coverage of the target countries.
Most of the vaccines that will be delivered through the program will be the AstraZeneca shot, and we've already seen the Democratic Republic of Congo, for instance, refuse to distribute them until the safety issues raised in Europe are cleared up: reuters.com/article/us-hea…
And then you have rich countries refusing to waive IP protections that would allow generic drug producers in India and South Africa to make more cheap vaccines: devex.com/news/trips-wai…
This is worrying. To date, Covid has been largely a disease of rich countries with the capacity to suppress it when vaccines become available. About 46% of deaths were in the U.S., U.K. and European Union.
The risk is that it may now turn into another "neglected tropical disease", like so many others (TB, cholera) that continue to ravage poor countries long after they've been forgotten in the rich world.
Rich countries now need to step up with funds and IP waivers to suppress it throughout the world.
In this fight, we will stand together, or fall apart. (ends)
My spiciest infrastructure bill take is that the "clean energy R&D" funding is basically a subsidy for annoying nuclear obsessives on Twitter.
Nuclear has historically sucked up the lion's share of energy R&D (and still gets the biggest slice today) because it's very complex and basic science-y, done by white lab coats not blue collars etc.
The generous funding for nuclear research combined with its fairly fundamental economic weaknesses means that it's a top-heavy field, with huge expertise in "paper reactors" even while real-world technology is basically updated 1960s reactor designs.
One yardstick for measuring the White House's $3 trillion-over-10-years infrastructure plan and Congressional Democrats' $10tr counter-offer is that China issues about $500 billion in infrastructure debt each year.
To be clear, those are figures for local government bonds in aggregate — but almost all of that goes on infrastructure, which receives non-local government financing in addition.
It sounds like the various U.S. infra plans will include some social-ish spending, too.
Think the Ever Given was a monster ship? The next generation of container vessels is going to make it look like a bath toy, pushing up against hard limits for the size of boats:
Container ships have again and again defied predictions that their size was approaching maximum limits.
One famed 1999 study argued that the biggest possible ships would be able to carry 18,000 containers, or TEUs (20ft-equivalent units). The Ever Given carries 20,124 TEUs.
At the time it launched in 2018, only a handful of 20,000+ TEU ships were on the sea, and the first had been launched less than a year ago.
There's now more than 100 of that size sailing or under construction. The biggest ones are 24,000 TEUs, 20% bigger than the Ever Given!
The Ever Given getting stuck while traversing the Suez Canal is playing out as a sort of slapstick routine.
But it underlines a serious point that's in many ways the axis on which modern geopolitical tensions turn.
If you can control ocean straits, you can control the world.
That's been the case since ancient times.
We don't know that much about what caused the Trojan War or whether it even happened, but there's lots of evidence that historical Troy was a trading centre of huge importance to ancient Greek states:
("Probably" because the data gets very patchy outside of England as you go earlier. But it's hard to believe that 1086 Scotland had more forest than 2020 Scotland, given where it was in 1350)
Other crazy facts: Japan and South Korea are more densely forested than Brazil and Russia.
After Xi Jinping's pledge in September to hit peak emissions this decade and net zero by 2060, some of the most important detail will be what's announced on the climate front.
China last year accounted for more emissions than the U.S., European Union, and India *put together*.